New Delhi, Feb 19 (ANI): Professor Saifuddin Soz, the Union Minister for Water Resources has said that the Water and Power Consultancy Services (WAPCOS) Ltd. should become more competitive. It balances its commercial and social obligations in an appreciable manner.
Addressing the Consultative Committee meeting of the Ministry of Water Resources on the subject "Activities of WAPCOS' here today, he said that it keeps consultancy rate at reasonable levels to allow various organizations and departments access to outstanding consultancy services within their limited budgets.
"It has maintained strong financial performance and consistent profitability and have been conferred the status of 'Mini Ratna' by the Government in view of its exemplary performance," he added.
Lauding the achievements of WAPCOS, Prof. Soz said that during the last five years, the company made sustained progress in turnover and business development.
"Turnover of the company has increased from Rs.41.22 crore in 2002-03 to Rs.160.05 crore in 2007-08 showing an increase of 288 per cent, while business secured has increased from Rs.63.10 crore to Rs.251 crore in the same period showing an increase of 298 per cent," he said.
"Performance of the company has been rated excellent continuously for the last five years based on the MoU signed with the Ministry. Based on this excellent performance, the company has been upgraded from Scheduled 'C' to Scheduled 'B'," he added.
The Minister further said the members that over the years it has been providing excellent consultancy services for prestigious hydropower projects in Bhutan like Tala Hydro electric Project, and Chukha Hydro electric Project.
It is implementing the Salma Dam Project in Afghanistan, on turn key basis, from the concept to its completion. It has recently secured prestigious projects in Cambodia in the fields of Water Resources and Transmission Lines. Its status, as an internationally recognized consultancy organization is beneficial to its prosperous future in the years to come.
Attention was focused on the construction of water resources and power projects in India immediately after independence.
The Government of India established Water and Power Consultancy Services (India) Ltd., which was subsequently renamed as WAPCOS Ltd.
Origin of WAPCOS dates back to 1968. Incorporated on June 26, 1969 under the Companies Act 1956, under the Administrative Control of Ministry of Water Resources, WAPCOS have been providing Consultancy Services in all facets of Water Resources, Power and Infrastructure Sectors in India and abroad. (ANI)